OREANDA-NEWS. AHML Group and Sberbank CIB held a joint meeting with regional real estate developers on financing the construction of economy-class housing as part of the "Housing for Russian Families" programme.

Denis Filippov, General Director of AFRC, commented that Sberbank is a strategic partner of AHML Group for the "Stimulus" programme. Mr Filippov said that as of today, 284 projects have been processed under the "Housing for Russian Families" programme and around 14.7 million square metres of housing are scheduled for construction. In Q3 2015, AHML Group provided Sberbank financing worth more than RUB 3 bln under the "Stimulus" programme. These funds were used to finance seven projects in the Republic of Mordovia and the Tomsk, Vladimir, Sverdlovsk, Kaluga and Yaroslavl Regions.

Sberbank is currently reviewing the possibility of financing around 40 projects to a total of RUB 15 bln. Subsidised lending under the "Stimulus" programme has enabled developers to construct more than 2.5 mln squares metres of affordable housing in the Krasnoyarsk, Perm, Ryazan, Samara, Tambov, Chelyabinsk and Kemerovo Regions, Republic of Bashkortostan and other Russian regions. In the near future developers plan to submit financing requests for 69 projects, totalling around RUB 36 bln.

"Participants of the 'Housing for Russian Families' programme have two years to fulfil their obligations for constructing housing and then selling it to the country's citizens. Our overall goal is launch the financing process for each project before the active construction season begins," said Mr Filippov.